This MRFR Market Perspective Examines the Historical Trends and Current Scenario of the “Global Liquid Biopsy Market” to Deliver a Highly Pertinent Growth Forecast. The primary objective of the report is to deliver Industry insights, market facts and relevant data that will allow report users to make informed decisions and device growth strategies.
Liquid Biopsy Market – Scenario
Market Research Future (MRFR) The global liquid biopsy market currently values around USD 3950 million and is projected to reach the valuation of USD 17,372.28 million by 2022. This striking growth will be accompanied by a noteworthy CAGR of 28% during the forecast period (2016-2022).
Liquid biopsy is a plasma genotyping technique that provides overview of karyotypic abnormalities in the circulating tumor cells present in the blood sample. In simple words, it is a test done on a blood sample to look for cancer cells from a tumor circulating in the blood.
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Drivers and Restraints:
High success rate of diagnosis to fuel demand for liquid biopsy
Over the course of time, liquid biopsy has been estimated to become the first line of diagnosis for a broad range of cancers such as central nervous system (CNS) and pancreatic cancer.
With rapid enhancements in next-generation sequencing (NGS) technology, liquid biopsies are projected to take prime position in the context of cancer-related probe and investigation.
The global market for liquid biopsy has been positively influenced by increasing cancer awareness and incidences. Alongside growing awareness is the growth of medical tourism along with modernization of healthcare infrastructure. Favorable government policies and initiatives assist the market to tread its way upward.
Industry Trends:
Promising technological advancements to increase the market size
July 2018 – Exosomics Siena S.p.A. recently launched its first proprietary liquid biopsy technologies, SeleCTEV DNA and SortEV RNA.
These technologies are used for the selective isolation of tumor-derived nucleic acids from complex biofluids, for instance, plasma or serum.
This is an instance of technological innovations in the context of liquid biopsy. The trend of constant efforts on the part of market players is significantly impacting the market size to a large extent.
Liquid Biopsy Market – Segmentation:
The global liquid biopsy market is segmented based on biomarker type, application, sample, and end-user.
Sub-segment of circulating tumor cells leading the biomarker segment:
The biomarker segment comprises circulating tumor cells (Ctcs), circulating tumor DNA (Ctdna), extracellular vehicles (Evs) and others. Circulating tumor cells tests are applicable in characterization of tumor cells through biochemical marker analysis. Hence, the segment is expected to dominate in terms of market share and revenue contributing close to 55.48% of the market share during the review period.
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Cancer therapeutic application poised to capture considerable market share in coming years:
By application, the market is segmented on the basis of cancer therapeutic application, reproductive health, and other therapeutic application. With the rising incidence of cancer across the globe, the cancer therapeutic segment is poised to claim a sizeable share in the market throughout the appraisal period by capturing 82.83% market share of the overall market.
Blood sampling is the most frequently used sample for liquid biopsy:
By sample, the market is segmented into blood, urine, and others. On account of numerous preexisting applications and methods for purification, blood sampling is the most favorable method for liquid biopsy studies. Cell-free DNA, circulating tumor cells, and exosomes can be detected in blood sample. These factors result in higher adoption rate of liquid biopsy through blood sampling.
Hospitals and laboratories segment to grow at a strong CAGR during review period:
By end-user, the global market is segmented into hospitals and laboratories, academic and research centers and others. Among these, the hospitals and laboratories segment is expected to attract the largest revenue from 2016 to 2022.
Liquid Biopsy Market – Regional Analysis:
On the basis of region, the global liquid biopsy market is spread across North America, Europe, Asia Pacific (APAC) and the Middle East and Africa.
North America market to continue its dominance throughout the review period
Globally North America was the owner of market share of 37.95% in 2016 and will continue holding the largest market share owing to high prevalence of colorectal cancer and growing number of patients. Moreover, the region notes successful market performance due to growing demand for non-invasive procedures and strong government policies.
On the other hand, Europe is the second-largest market on account of novel clinical trials and technological advancements in the field. The region also observes growing cases of cancer that leads to massive demand for liquid biopsy procedures.
APAC has turned out to be the show stealer with the market growing at the highest rate of 28.8% in the foreseeable future. This growth has been possible due to the increasing focus of market players on this region. India and China are the emerging countries in the region with increased market access of each country’s population to healthcare resources. Other countries such as Japan, Australia and South Korea are major contributors of this market growth.
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